A PYMNTS Company

EU Watchdogs Raid Gucci’s Offices In Italy

By  |  April 19, 2023

The tax police in Italy conducted an inspection at a Gucci facility in Milan, as part of an EU investigation into potential violations of business practice regulations. This information was provided by a source who had direct knowledge of the matter on Wednesday.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    On Tuesday, the Guardia di Finanza and European Commission agents conducted an inspection at a site in Milan related to the production of travel items, handbags, and leather goods. Gucci, part of Kering, declined to comment to Reuters.

    The European Commission stated antitrust regulators had raided fashion companies in multiple EU countries. The Commission did not disclose the companies or countries involved but sent information requests to other companies in the same sector.The European Commission, which runs the EU’s powerful antitrust authority, is looking into allegations the companies had violated the bloc’s competition rules.

    Related: Estée Lauder To Buy Tom Ford For $2.8 Billion

    If a company raided is found guilty of antitrust violations, it risks large fines but can be granted immunity if it cooperates with the commission and amends its behaviour.

    The world’s second largest luxury group, Kering also includes fashion houses Yves Saint Laurent and Balenciaga.